#PROJECT-Ras Al Khaimah: MINA AL ARAB

[Sun Luvver]

To answer DOCC above questioning living in Mina Al Arab, in fact I cant think of a better place to live, or have as a dream weekend retreat or holiday home.

A wonderful, self contained community-
with private beaches, the harbour area with outdoor cafes and retail, gyms and other amenities , lots of open space, and 8 branded hotels just down the road with the choice of restaurants and functions on offer, with no traffic (best of all) unlike Dubai.

It sounds like paradise to me. Being in construction, I may even look for a job in RAK. Cant think of anything more pleasant than working 5 minutes from home, and coming home to walk on the beach right in front of my villa.

Sheer bliss.

[davidbht]

Great Pictures,
Wondered when the show villas will be ready for viewing in Granada ?
How many rows of villas were built on your photos,
What is the cooling Photo ?
Good to see construction thanks for the update

[davidbht]

Rak Properties sales staff inform me that the show villa will be ready next month. with handover of Granada starting mid 2009.
But why are they so bad at connstruction updates photos.

[drakes]

Hi David, in the photos, they are starting with all the rows of villas and townhouses at the same time, ie 4 rows. They seem to be working from the South towards the North.

The cooling plant supplies the A/C centrally for the whole development instead of each villa having individual units.

I think they're being optimistic with the show villas. I recon 2 months at least.

But just to see al this progress is fantastic I agree with you.

[ecarlstedt]

Hey guys,

I bought a Mina One Bedroom (public view/lagoon), for 625,000 (810 sq. ft. approx), and I might need to sell it. Does anyone know what a fair price would be for it? I can hold onto it for another year, but I'm just worried that prices will be the same or go down in a depressed market. So, also, any predicitions for the future and why do you feel that way?

Thanks,
Edward
ecarlstedt@aus.edu (in case you want to write me off line).

[iamhere9]

Originally Posted by ecarlstedt

Hey guys,

I bought a Mina One Bedroom (public view/lagoon), for 625,000 (810 sq. ft. approx), ...

Wasnt builder offering30% buyback for Mina Apartments after a year?

[davidbht]

hi, have photos to post help please

[The-King]

hey davidbht,

Please go to www.imgeshack.us

Upload them and then post the link (URL) of the picture between the following:

[IMG]Your URL[/IMG]

You can also quote an other post to see how it was done

[Palm-Host]

New construction updates on the website
http://www.minaalarab.net/amaa_main.html
The villas are looking good!
Looks like they are really pushing to get things done!

Anyone have any ideas when the show villas will be done?

[reef2008]

If anyone has had issues with RAK Properties then I would be very interested to know your story, feel free to PM me.

[Palm-Host]

Anyone have any news on this? How's the development going? any pics?

[davidbht]

Had confirmation today that granada district 60% complete and
Show Villa at Mina Al Arab ready for visits and inspection.

[drakes]

Here are a few progress photos from our trip to RAK on the weekend. They are coming along beautifully. Just look at the huge space that the road has been given between the two rows of villas. Unheard of in Dubai.
And look at the beach. It is the only development we know of where you actually have access to the water just by walking down the beach. Not even Al Hamra has this. Its looking truly stunning.

However, the pictures are of the showhouse, which is not yet complete nor ready for viewing, so not sure where this information came from.



First and Second row villas

Villa and Beach


View of Villas and Beach

[Paul Bennett]

Does anybody have any idea when the showhouse will now be finished.In addition has anybody any idea when the Granada project will start to be handed over

[Safin123]

2 bedroom apartment (3rd Floor, Lagoon Facing)
Size = 1377 sq.ft
OP = 1,026,074 (745/sq.ft)
SP = 991,440 (720/sq.ft) or best offer
Serious buyers - email me at kramwani@yahoo.com

[davidbht]

Originally Posted by Paul Bennett

Does anybody have any idea when the showhouse will now be finished.In addition has anybody any idea when the Granada project will start to be handed over

Rak Properties informed me today that the showhome will be completed by the end of March 2009,and will deliver the whole of Granada District (Precinct 4 ) by Sept 2009. If anyone can post some photos that would be great.
Lets hope this is a good news story,there is awful lot of developments which for whatever reason are delayed, cancelled,etc across the UAE.

EVEN THE E WORD WAS SAID TO BE IN PLACE FOR COMPLETION
(ELECTRICITY)

[Paul Bennett]

Great news re the showhouse.I am sure this will be another piece in the establishment of the Mina Al Arab project as one of the premier residential addresses in the UAE.I am hoping to be in Rak during April/May and I am looking forward to seeing the houses and the standard of finish which I am assured by my contacts will be impressive.

I have two townhouses on the Granada phase of the project.I am keeping one to live in myself but would be prepared to sell the other one for the right offer.The unit number is Mapth 65 and it is fully paid except for the final payment on completion of 1 040 000 dhs(excluding developer extras).I would require a sale payment of 1 243 000 dhs which with tranfer costs of say 40 000 dhs payable to Rakia would imply a full sale price of 2 323 000dhs for the purchaser.If this is of interest to any serious investor who has the vision of Mina Al Arab please email me on bennett351@aol.com

[davidbht]

Delays To the dream.
Ok we bought into the concept hotels,cafes,water park,gym,shops,pools,walks,and cycling,but the reality for the residents of Granada will be veery different on handover of our new home.
99 villas,townhouses,within a gated community with what facilities.
As Rak Properties has announced they will build only one Hotel starting (trying to find out) the project is being scaled back so come on Rak Properties what have we really bought and what is the actual plan of Mina Al Arab

[Paul Bennett]

The news re the delays to the facilities is particularly disturbing for myself as an investor.As a property developer myself I equate this to selling a finished house, receiving the money and then before the client arrives taking the roof off.We are all at the point where we have contributed a significant amount of money and we did that on the basis of the project and its total ambience and facilities.We now are in danger of being left with a building site around us and very limited facilities, let alone how this sort of news will effect the value of the units that we have bought.What are the decisions re other phases and how are deposits of customers to be handled if they have been received,are they to be offered units on phases that are going to be finished.It would be interesting to hear some views from other purchasers out there and what they believe is the best course of action to take this forward.
At the moment I am thinking I require a reduced price and a considerable extention to my payment plan until the facilities are defined and completed let alone the yearly maintenance charge being slashed.
I think clase actions is the words I would hear in the States but this is the Middle East so a different approach will be needed. Nevertheless RAK have a worldwide reputation to uphold otherwise investor confidence will be destroyed and the Dream will be dead.

[Palm-Host]

Any more news on these? any pics of the showhomes? What is the finishing like?